The futures are flat, there is still time to brag about your positions BEFORE THE FACT! I am Long VXX Aug 23 Puts (not a great entry ~b/e at the close on Mon). I believe the fears have been overblown and the news will be better than expected.
SPX 1300+ this week after the Greece bailout comes and smoothes everything out the markets here and around the world will rally for days gaining at least 3%. Bubble ben bernanke speaks as well this week and will probably prop the markets higher with his positive words about the possibility of more QE, that should be good for another 2%, damn before you know it the markets will be back to yearly highs with the SPX back above 1340!!!
VXX -5%, Puts +13% so far still too much anxiety due to FOMC and Ben today? SPY +1.3%, GLD +0.4% right now
Shortie: my sense is that your VXX puts may have helped to hedge your SPY/GLD possible loss of volty. If yes, did you do it by design or accident? I bet it is by design.
I've been long the CAC40 for a while now and long SocGen calls (+3,6% today, tyvm) since the 16th. I didn't hedge today because of the technical state of the market (which imo is very good) but I am quite worried about the fundamentals (Greece) now because I think the chances of the vote going unluckily are over 50%. Still, even if the no-confidence thing goes through, I'm not convinced the market won't just ignore it (maybe a small dip), considering the people trading bonds have already agreed that Greece is going to default. It's not a surprise anymore and if contagion risk is being ignored today I don't see why it couldn't be ignored tomorrow. By the way, CL still going down \o/
not exactly by design. short volatility is a separate trade that i started building when VIX went up too much. i understand that going long options can be costly if the volatility is high and that going short volatility in a separate trade can hedge for volatility collapse. but i am not attempting to weigh those trades in any quantitative way.
I'm awaiting the results of the latest shortie poll before pulling the trigger. I never trade without it.